On June 7, 2022 Karyopharm Therapeutics Inc. (the "Company") reported that received written notice from Biogen MA Inc. ("Biogen") that Biogen has elected to terminate the Asset Purchase Agreement entered into between the Company and Biogen dated January 24, 2018, as amended (the "Agreement") (Filing, 8-K, Karyopharm, JUN 7, 2022, View Source [SID1234616002]).

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Pursuant to the Agreement, the Company sold to Biogen rights to the Company’s oral Selective Inhibitor of Nuclear Export compound KPT-350 and certain related assets. Biogen was developing KPT-350 for use in amyotrophic lateral sclerosis, or ALS. Under the terms of the Agreement, the Company received an upfront payment of $10.0 million in 2018, and was eligible to receive additional payments of up to $207.0 million based on the achievement by Biogen of future specified development and commercial milestones. The Company was also eligible to receive tiered royalty payments that reach low double-digits based on future net sales until the later of the tenth anniversary of the first commercial sale of the applicable product and the expiration of specified patent protection for the applicable product, determined on a country-by-country basis.

As a result of the termination, the Company is not entitled to receive any milestone payments or royalties under the Agreement, although the Company has specified rights relating to the purchased assets upon the termination of the Agreement, which the Company is evaluating.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, as amended, which was filed collectively with the Securities and Exchange Commission as (i) Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q on May 10, 2018 and (ii) Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q on November 3, 2021, and is incorporated herein by reference.

On June 7, 2022 Elevar Therapeutics has reported the Phase II clinical trial results of its small-molecule tyrosine kinase inhibitor (TKI) rivoceranib in progressive recurrent or metastatic adenoid cystic carcinoma (R/M ACC) patients (Press release, Elevar Therapeutics, JUN 7, 2022, View Source [SID1234615922]).

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The open-label Study RM-202 of the orally administered TKI was carried out at 11 sites in the US and South Korea.

It has been designed to investigate the therapy’s safety and efficacy in patients with progressive R/M ACC.

Study RM-202 evaluated rivoceranib in 80 patients, including 53 (66.3%) based in the US.

Within six months before the trial, all the participants demonstrated tumor progression.

An overall response rate (ORR) of 15.1% was observed in the trial, and the remaining 85% of patients had a tumour size reduction, though not an endpoint of the trial.

Elevar Therapeutics CEO Saeho Chong said: "With every participant exhibiting a recent growing lesion upon entering this Phase II trial of rivoceranib, these results demonstrate significant clinical effectiveness and rivoceranib’s promise as a potential new treatment for patients with R/M ACC.

"Our entire Elevar team is greatly encouraged by these results, and we are fully focused on advancing rivoceranib through the regulatory process."

In this trial, 52% of subjects reported a response according to CHOI (size or density), which is believed to be more correlated with median overall survival (mOS) than RECIST v1.1 (size only).

Irrespective of previous vascular endothelial growth factor (VEGFR) therapy, median progression-free survival (mPFS) of nine months was observed versus published data of a baseline of 2.8 months for R/M ACC.

On June 7, 2022, Olema Pharmaceuticals, Inc. ("Olema") and Aurigene Discovery Technologies Limited ("Aurigene"),reported that entered into an exclusive global license agreement (the "License Agreement") to research, develop and commercialize novel small molecule inhibitors of an undisclosed oncology target (Filing, 8-K, Olema Oncology, JUN 7, 2022, View Source [SID1234615809]).

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Under the terms of the License Agreement, Olema will make an upfront licensing payment of $8 million for rights to a pre-existing Aurigene program. Aurigene will also be eligible to receive up to $60 million in potential clinical development and regulatory milestones, up to $370 million in potential commercial milestones, and royalties ranging from the mid-single digits to the low teens based on annual net sales. During the initial research term, Olema will contribute funding to Aurigene to facilitate ongoing discovery efforts and the companies will jointly direct further preclinical work. Upon successful completion of the research term, Olema will lead clinical development as well as regulatory and commercial activities.

The foregoing description of the License Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the License Agreement, which will be filed as an exhibit to Olema’s Quarterly Report on Form 10-Q for the quarter ending June 30, 2022. Olema intends to redact certain portions of the License Agreement for confidentiality purposes.

On June 7, 2022 Knight Therapeutics Inc. (TSX: GUD) ("Knight"), a leading pan-American (ex-US) specialty pharmaceutical company, announced today that Amal Khouri, Chief Business Officer, reported that present at the 2022 BIO International Convention on Tuesday, June 14, 2022 at 2:45 pm Pacific Time (Press release, Knight Therapeutics, JUN 7, 2022, View Source [SID1234615769]).

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Knight’s Business Development team will also be participating in BIO’s One-on-One Partnering which facilitates meetings with senior biotech executives, business development leaders, and investors from premier firms around the globe.

The annual BIO International Convention, hosted by Biotechnology Innovation Organization (BIO), is the world’s largest industry gathering and brings together thousands of global biotechnology and biopharmaceutical leaders. The four-day, in-person event includes networking, programming, and partnering opportunities.

On June 7, 2022 Ichnos Sciences Inc., a clinical-stage global biotechnology company developing innovative multispecific antibodies for oncology, reported that its president and chief executive officer, Cyril Konto, M.D., will present at the 2022 Jefferies Healthcare Conference in New York on Wednesday, June 8 at 3:30 PM Eastern Time (Press release, Ichnos Sciences, JUN 7, 2022, View Source [SID1234615762]).

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"Ichnos has been working to develop and advance therapies for cancer that extend and improve survival and quality of life, driven by the belief that cure is possible," said Cyril Konto, M.D., President and Chief Executive Officer of Ichnos Sciences. "We are excited to come together with other health and biotech innovators at the Jefferies Conference and honored to have the opportunity to share our plans for shifting medicine forward."

Dr. Konto’s presentation comes just weeks after Ichnos announced the selection of its ISB 2001 TREAT[1] trispecific antibody, the first T cell-engaging antibody that targets BCMA and CD38 on multiple myeloma cells, as its next candidate to move into clinical development. Ichnos’ pipeline also includes ISB 1342, a CD38 x CD3 bispecific antibody, which continues to enroll patients with relapsed/refractory multiple myeloma in an ongoing Phase 1, dose escalation and expansion study, and ISB 1442, a CD38 x CD47 biparatopic bispecific antibody for which a Phase 1 study in relapsed/refractory multiple myeloma is planned to start shortly.

A live webcast of the presentation can be accessed through this link. A replay of the webcast will be available for one year following the conference.